By Sheila Dang (Reuters) – Advertisers are committed to continue spending on TikTok due to its immense popularity with users despite threats of a potential ban in the U.S. over national security concerns, ad experts said. The steadfastness comes as TikTok, which is owned by Chinese tech firm ByteDance, is fighting to prevent a ban…
By Byron Kaye and Savyata Mishra (Reuters) -Australian lender ANZ Banking Group Ltd said it was diversifying beyond a residential mortgage market gripped by competition on Friday as earnings from its institutional arm overtook home lending. The country’s No. 4 lender reported a record first-half result as banks shift away from their traditional earnings engine…
SYDNEY (Reuters) – Macquarie Group’s commodities and global markets (CGM) division head earned about A$57.6 million ($39 million) for the year ending March 31, topping the CEO’s A$32.8 million compensation, according to the Australian bank’s annual report. Nick O’Kane’s 59% pay bump – he earned A$36.2 million in the last financial year – came after…
By Michael Martina and Don Durfee WASHINGTON (Reuters) – Philippines President Ferdinand Marcos Jr dismissed criticism during an interview on Thursday that his presidential campaign played down the corruption and extravagance the Marcos family was known for during his father’s rule. Marcos told Reuters at the end of a four-day visit to Washington that…
BEIJING (Reuters) – China’s state planner will step up credit support for projects with private investment, the state-run People’s Daily reported on Friday, reinforcing efforts to encourage more private capital investment in major projects. Despite better-than-expected economic growth in the first quarter, the recovery of the world’s second-largest economy has seen public investment outpacing sluggish…
(Reuters) – Australia’s Downer EDI said on Friday it was served with a second class action lawsuit by certain shareholders alleging breach of disclosures regarding a maintenance contract undertaken by the company’s segment in July 2019. The class action, filed on behalf of shareholders who purchased Downer shares between July 2019 and February 2023, comes…
SYDNEY, May 5 (Reuters) – Australia’s central bank on Friday warned that risks to inflation were on the upside given low productivity growth, rising energy prices and a surge in rents as population growth out paces all expectations. In a quarterly Statement on Monetary Policy, the Reserve Bank of Australia (RBA) reiterated that interest rates…
BEIJING (Reuters) – Tesla Inc has raised prices for its new Model S and Model X vehicles in China by 19,000 yuan ($2,751), its website showed on Friday. ($1 = 6.9060 Chinese yuan renminbi) (Reporting by Shanghai newsroom and Liz Lee; Editing by Christian Schmollinger)
By Steve Holland WASHINGTON (Reuters) -White House national security adviser Jake Sullivan said on Thursday he will travel to Saudi Arabia this weekend for talks with Saudi leaders, as the United States seeks to bolster often-frayed ties with Riyadh. Sullivan, speaking at a think tank conference, also said the United States will “take the necessary…
NEW YORK (Reuters) – An exiled Chinese businessman charged by U.S. prosecutors with leading a more than $1 billion fraud on Thursday appealed a judge’s order that he remain in jail pending trial, court records showed. Guo Wengui, once a business associate of former U.S. President Donald Trump’s adviser Steve Bannon, was arrested in March….
